Wall Street Surges Amid Eased Tariff Tensions, Tech Stocks Lead Rally

Wall Street's major indexes reached new highs as President Trump pulled back on European tariff threats, boosting tech stocks and lifting market sentiment. Economic data remains strong, with U.S. consumer spending up and unemployment claims lower than expected, reinforcing the market's positive outlook.

Wall Street's main indexes soared to record highs on Thursday after President Donald Trump eased tariff threats against European countries, coupled with strong economic data pointing to a resilient U.S. economy.

The rally in the stock market was led by tech giants such as Alphabet, Tesla, and Apple, each rising nearly 1%, and Meta gaining 3%. Meanwhile, the Russell 2000 index experienced a 1.3% increase, reaching its own record high.

Amid easing trade tensions, the CBOE Volatility Index, known as Wall Street's fear gauge, decreased significantly, and positive consumer spending data reinforces confidence in continued economic growth.

(With inputs from agencies.)